LONDON--(BUSINESS WIRE)--#ApplicationSoftware--The artificial intelligence platforms market size is poised to grow by USD 6.95 billion during the period 2019-2023, according to the latest market research report by Technavio. Request a free sample report
Governments across the world are increasingly promoting AI technology through investments in R&D and by developing education programs to train the workforce with AI skills, which can support businesses across industries. Retail, BFSI, and manufacturing are a few of the major industries that are increasing their investments in AI to automate business functions. Many key countries have initiated AI development plans to drive economic and technological growth. Some instances include the launch of Germany’s digital strategy on AI called “AI Made in Germany” in November 2018, and China’s announcement of its “Next Generation Artificial Intelligence Development Plan”, in 2017. These strategies focus on the development of talent and education, government investments, and research and collaborative partnerships in AI. This will have a positive impact on the growth of the artificial intelligence market during the forecast period.
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As per Technavio, the increasing convergence of AI with IoT and blockchain will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other important trends and market drivers that will affect market growth over 2019-2023.
Artificial Intelligence Platforms Market: Increasing Convergence of AI with IoT and Blockchain
The Internet ecosystem is evolving rapidly and is generating huge volumes of data. As a result, the implementation of AI to extract data from distributed networks, such as the Internet of things (IoT) and blockchain is also growing. Moreover, AI’s ability to take petabytes of data from a distributed network to derive potential insights for business development is driving government organizations, industries, and academia to converge AI with IoT and blockchain. While AI extracts intelligent insights from a large volume of data, blockchain addresses the security issues associated with AI and IoT, where most of the IoT devices are connected through public networks. The convergence of AI with IoT and blockchain technologies will leverage the benefit of each and lead to the development of new platforms where data can be produced, processed, and secured with the help of an IoT system, AI algorithms, and the blockchain technology.
“Factors such as the increasing interoperability among neural networks and the rising adoption of AI-enabled chips will have a positive impact on the growth of the artificial intelligence platforms market value during the forecast period,” says a senior analyst at Technavio.
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Artificial Intelligence Platforms Market: Segmentation Analysis
This market research report segments the artificial intelligence platforms market by deployment (on-premises and cloud-based) and geography (APAC, Europe, MEA, North America, and South America).
The North American region led the artificial intelligence platforms market in 2018, followed by APAC, Europe, South America, and MEA respectively. During the forecast period, North America is expected to maintain its dominance and register the highest incremental growth due to factors such as the increasing need for automated machine-driven decisions and increasing investments by market players, such as Microsoft, Google, and IBM.
Technavio’s sample reports are free of charge and contain multiple sections such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
- Market ecosystem
- Market characteristics
- Market segmentation analysis
- Market definition
- Market size and forecast
Five Forces Analysis
- Regional comparison
- Key leading countries
- Vendors covered
- Vendor classification
- Market positioning of vendors
- Competitive scenario
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